About two weeks ago some fake bears claim Putin was to invade Ukrainian during the weekend because he needs to wait until market close to carry out the action in order not to knock down the market on Friday. Now the perma spoon-Fed bulls say nothing is going to happen before Labor Day, because, guess what, it is a national holiday and people around the world will coordinate so that the market can keep moving higher and the sell-off will only happen in September.
I think there is a fair chance that something bad is going to happen (maybe already happened) this week. The market is primed to be surprised. We'll see.
Because SPY hitting 200 indicates the market is under complete control of the bots, and the bots want the market to go higher.
People did not worry about the economy. They worried about the bots. They were afraid that the bots were not in charge, and the market may reflect the economic reality. Now the bots show who is the real boss, and therefore people (sheeple) are relieved and become confident.
You can still be bullish if you sell out of the money covered calls. But it takes some capital and a lot of skill to do that. Anyway, good luck with LULU.
QE is ending but can be restarted. There is no WWIII insight. There is always an argument for the upside.
Did you short it?
I would not be surprised if the major correction happens this week in stead of after labor day.
I am taking a chance. Keep the position over night.
Are you selling covered calls? (Since I assume you are still bullish about SPY).
If the traders believe the pattern is true they should front-run it and start to sell this week. It is not happening.